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Finding your dream home in Costa Rica
Investing in real estate in Costa Rica could be one of the best decisions you will ever make! With more than a million vacationers each year, Costa Rica's popularity is growing. There are few resort areas in the world with as many great property values as in this peaceful country.
Investment appreciation has increased rapidly in the last few years. A 10% increase in property values is not uncommon. Study the Costa Rica real estate listings, and you are sure to be tempted to purchase a vacation or investment property.
There is no hotter property in Costa Rica than a beach location. Some of the world's most stunning, pristine beaches are located here. The variety of nature and adventure activities means that there is always something to see and do.
Before taking the plunge buying your Costa Rica home or land, make sure you are study the diverse regions of the country and the unique opportunities in each.
Both the Caribbean and Pacific coasts offer beautiful beaches and ocean views. The area around Guanacaste is home to Arenal Volcano and popular surf destination such as Nosara and Tamarindo. The Central Valley around San Jose has one of the most desirable climates in the world. Here you will be close to San Jose with its big-city amenities such as hospitals, shopping malls, cultural activities and business services.
The Central Pacific region is where you will find the incomparable area near Manuel Antonio National Park. This booming region has an international flair and some of the most beautiful rainforests and beaches in the country.
If you are looking for a home to use for rental income, you won't find a better spot than Manuel Antonio for beach view homes or land. Property values here are on the rise, and it's not too late to secure your own little piece of paradise.
Master planned communities and condominiums are other great options for home buyers. For permanent residences or as seasonal vacation homes, you will find the variety of choices to be almost limitless.
Since you will be spending a lot of time in Costa Rica, keep in mind the hobbies and activities of the areas where you are considering a real estate purchase. The Caribbean is known for its beaches and whitewater rafting, while windsurfing is popular in the Northern Zone. Of course if surfing is your choice, the Flamingo/Tamarindo area is world famous. Pristine beaches in the Central Pacific Region offer some of the most dramatic ocean views that you will find anywhere. Lush rainforests, tranquil mountains or scenic coastlines - the choice is yours!
The process of buying real estate in Costa Rica
Just as you would in the states, you will most likely work with a professional realtor, negotiate a sales price and make an offer on your carefully-selected property. Once you have reached an agreement with the seller, you will sign a contract and then begin the process of transferring the title.
A transfer deed is called an "escritura" and can be handled by an attorney/notary public. After a transfer deed has been approved, the sale will be registered at the Public Registry (Registro Nacional) where the closing will occur.
Your attorney will attain a clear title for you. Property titles are held at the Registro Nacional, where it is assigned a title registration number. This is how your attorney will research information about the current title holder, existing liens, mortgages or outstanding taxes. A clear title is extremely important and your attorney should search the registry database and perform the title search before you close a deal on a home or property.
There is an important thing to note about buying beachfront property. Costa Rica has a Maritime Zone Law which states that starting at the hide tide markers, 200 meters of this beach land is government-owned and cannot be individually owned. Restrictions on foreign ownership also exist for beach property. Buying this type of real estate is a little more complicated, so be sure you retain a professional, experienced attorney to help you through the process.
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